AbbVie Inc. (NYSE:ABBV) Shares Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,132 shares of the company’s stock after acquiring an additional 2,959 shares during the period. AbbVie comprises approximately 3.6% of Abacus FCF Advisors LLC’s holdings, making the stock its 2nd biggest position. Abacus FCF Advisors LLC’s holdings in AbbVie were worth $22,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at about $32,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie during the 4th quarter valued at about $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Price Performance

Shares of AbbVie stock opened at $189.13 on Tuesday. The firm has a fifty day simple moving average of $183.92 and a 200-day simple moving average of $187.28. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The stock has a market capitalization of $334.09 billion, a price-to-earnings ratio of 78.81, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the company earned $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by corporate insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.